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K2-VG06 in K2 Building

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Join us for an exciting research lecture and master class in econometrics and statistical forecasting of financial markets by Prof Marcel Ausloos, a renowned international expert. After the talk there will be a drinks reception and the opportunity for informal networking and discussion.

I look forward to seeing you there! Professor Karin Moser, Director of Research & Enterprise for the Business School

Professor Marcel AusloosSchool of Business, University of Leicester, UK, and GRAPES (Group of Researchers for Applications of Physics in Economics and Sociology), Belgium

AbstractThis talk intends to describe how one can start from growing crystals in a materials science laboratory and end up studying financial time series. Indeed, after 1987, when a giant intellectual tsunami shocked condensed matter physics – the unexpected scientific discovery of superconductivity above liquid nitrogen temperature, one had to grow single crystals in view of studying such ceramics properties and test the relevant theories. In order to optimize the growth process of these crystals, one developed and designed appropriate growth models.

In this context I will recall the “Magnetic Eden Model”. As an interesting illustration, I’ll quickly show an application to hooligan crowd in a stadium. However, for faster tests of models, financial time series is investigated. Thus, I will show how simulation techniques on crystal growth (and sand pile collapses) can serve by analogy to study stock market bubbles and thereafter crashes with endogenous causes.

Short BioMarcel Ausloos is a Belgian engineer (University of Liege, 1967). He turned toward statistical physics for his Ph. D. (Temple University, 1973). Thereafter, he has been applying statistical physics ideas and methods in various fields encompassing biophysics, financial and econo-physics, meteorology, linguistics, socio-physics, and many other non-equilibrium time-dependent systems, beside pursuing investigations on condensed matter, e.g. on liquids, alloys, magnets, ceramics, or superconductors. He has much contributed to statistical mechanics theory through studying various disordered systems, which can be described along fractal and multi-fractal ideas. Also, he has been much interested in describing non-linear and out-of-equilibrium phenomena through mathematical formalisms and simulation works. His work in econo-physics and socio-physics is widely respected.

He founded the SUPRAS "horizontal" group of scientists belonging to various University of Liege laboratories (physics, chemistry, engineering) with fundamental or applied science interests on ceramics superconductors and magnetic materials. The research group was recognized as a FNRS Center of Excellence, SUPRATECS. In parallel, he initiated the GRASP, later on reforming part of the group to become GRAPES (Group of Researchers for Applications of Physics in Economy and Sociology).

Since Nov. 2014, he holds a part-time chair at the School of Management, now, since Aug. 01, 2016, School of Business, College of Social Sciences, at the University of Leicester, Leicester, LE1 7RH, UK.

He has of the order of 600 publications, with a Hirsch-index of more than 40, in peer review journals and as peer review published communications at scientific meetings, with more than 300 different coauthors and has edited 9 books He is or has been a member of the editorial board of various journals.